Question to the HM Treasury:

To ask Her Majesty's Government whether they have proposals for improving banking arrangements between the UK and Iran, in order to overcome trading difficulties.

The government remains committed to the full implementation of the Joint Comprehensive Plan of Action (JCPOA), which includes ensuring that Iran gains tangible benefits from the sanctions relief agreed under the deal.

HM Treasury officials are acutely aware of the reluctance of financial firms to support Iran-related activities and are continuing to work with UK banks and banking associations to understand their concerns and to identify practical approaches that will help facilitate trade with Iran.